The U.S. Department of the Treasury said Monday it will slash the benefits of corporate tax inversions and hamper efforts of U.S.-based multinational corporations to shift their tax residences to nations with lower taxes, calling it an "unfair practice [that] erodes the U.S. tax base."
The operator of the $3.8 billion Indiana Toll Road on Monday filed for Chapter 11 protection in Illinois bankruptcy court, saying it intends to sell its assets to pay its creditors the more than $6 billion it owes.
A New York jury on Monday found Arab Bank PLC liable for knowingly supporting terrorism, a landmark ruling in the first civil trial ever to be brought against a bank under the Anti-Terrorism Act, finding the Jordanian lender provided financial services to the Palestinian Islamist group Hamas.
The U.S. Securities and Exchange Commission announced on Monday that it expects to award more than $30 million to a whistleblower who provided key original information that led to a successful enforcement action, setting a new record for payouts received under the agency’s new Dodd-Frank powers.
Freescale Semiconductor Inc. and MediaTek Inc. have reached an undisclosed global settlement in their ongoing chip-patent infringement war, the companies announced Monday just as a California federal jury was to begin deliberating in MediaTek's $23.4 million trial accusing rival Freescale of copying three patents.
Private equity-backed Fairmount Santrol, a provider of sand products used in fracking by gas and oil companies, is seeking an initial public offering that would raise near $1.1 billion if shares sold on the high end, according to a regulatory filing Monday.